[51cards]

I'd like to know if I have the correct understanding of this tax business. Suppose a player plays 200 sessions in a year. In 100 of them he is up $300 and in the other 100 he is down $200. He is supposed to report $30,000 in "winnings"? Even though he only nets $10,000. You can even set up numbers that don't seem implausable which result in a profit before taxes but a loss after tax.

What about a player who has a winning 9 months but loses it all in the last quarter? Is he liable for taxes on poker winnings in a losing year?

If I start winning consistantly I may just feel the need to do it in a different country.

Thanks for any replies.